Company news and results
Swatch Group reported an increase in sales of ca 30% in 2021. The operating margin was 14%. They expect to grow double-digit in 2022.
Rémy Cointreau’s sales grew +21% in Q3, on an organic basis. 9-months sales were up +35.7% compared to two years ago:
Logitech, a company that has been a COVID beneficiary and delivered a 74% increase in revenues in their fiscal year 2021, raised its annual guidance for both sales and profitability.
Logitech raised its Fiscal Year 2022 annual outlook to between 2 and 5 percent sales growth in constant currency, and between $850 million and $900 million in non-GAAP operating income. The Company’s previous outlook was flat sales growth in constant currency, plus or minus five percent, and $800 million to $850 million in non-GAAP operating income.
Barry Callebaut, the cocoa processor and chocolate manufacturer, reported sales revenue of CHF 2,032.2 million, up +14.0% in local currencies.
Lonza reported sales of CHF 5.4 billion in 2021, up 20%. They expect to grow low to mid-teens in 2022.
Diageo reported net sales of almost £8.0 billion in the first half of fiscal year 2022, up +20% organically. The higher the price tier the faster the growth:
Sartorius published its preliminary figures for 2021:
Order intake up 52.3 percent; sales revenue up 49.3 percent; underlying EBITDA margin at 34.1 percent, up from 29.6 percent a year ago
They expect sales to increase by 14-18% with “sustained high profitability” in 2022.
The testing, inspection and certification company SGS reported total revenue of CHF 6.4 billion in 2021, up +8.9% organically. They expect to grow mid-single-digit in 2022.
LVMH's sales increased to 64.2 billion euros in 2021, +36% organically compared to 2020 and +14% compared to 2019. Chairman and CEO Arnault commented:
Despite the uncertainties that remain at the start of this new year, which continues to be disrupted by health concerns, we approach 2022 with confidence and are convinced that LVMH is in an excellent position to further strengthen its lead in the global luxury market.
The flavours and fragrances company Givaudan, reported sales of CHF 6.7 billion in 2021, up 7.1% on a like-for-like basis.
Deals and IPO
Temasek buys Bridgepoint's Element Materials in $7 bln deal (link)
Kering sells luxury Swiss watch brands Girard-Perregaux and Ulysse Nardin (link)
UBS steps up U.S. push with $1.4 bln Wealthfront purchase (link)